Mid-caps stocks in India are believed to produce better returns because they are quicker to act on than large caps and more financially stable than small caps as they are in the growth phase of the business cycle. In addition to that, the stocks are less risky and have less volatility. 

Here are 5 top performing Mid-cap stocks that delivered multibagger returns in 2022:

Mazagon Dock Shipbuilders Limited 

The shares of Mazagon Dock Shipbuilders are the top performing midcap stock in the year 2022 as the share price has risen from Rs 283 a piece in January 2022 up to the current levels of Rs 792 on Monday logging a multibagger return of 180 percent in the year. 

The government’s focus on Make in India and push for the modernization of the Indian Navy helped the company grow its order backlog of Rs 42,000 crore this year. In fact, it is the only shipyard to have built destroyers and conventional submarines for the Indian Navy. 

Mazagon Dock Shipbuilders Limited, formerly called Mazagon Dock Limited, manufactures warships and submarines for the Indian Navy and offshore platforms and associated support vessels for offshore oil drilling. 

The Fertilisers And Chemicals Travancore Limited 

The shares of Fertilisers and Chemicals Travancore Limited have zoomed more than 185 percent in 2022 as the stock price has increased from Rs 130 in January 2022 to the current level of Rs 381. The major rally happened in the month of December last year. 

One of the reasons for the rally has been a rise in the subsidy on urea to provide relief to the farmers amid supply constraints due to global factors. In addition to that, the announcement of an increase in export tax for fertilizers further added to the news. 

The Fertilisers and Chemicals Travancore Limited, abbreviated as FACT, is an Indian central public sector company under the ownership of the Ministry of Chemicals and Fertilizers. It was the first large-scale fertilizer plant in India. 

Karur Vysya Bank Limited 

The share price of the bank has gained more than 145 percent in 2022 as it has risen up from Rs 46 at 2022 around the same time to the current level of Rs 110 on Monday. The major rally in the stock was seen between June to December last year when it gained the maximum value. 

Similar to other bank stocks, the shares of Karur Vysya Bank rose rapidly this year on the back of an improvement in asset quality, a decrease in the rate of non performing assets, and an increase in the loan disbursal which led to strong quarterly results.

Karur Vysya Bank is a Scheduled Commercial Bank that has completed more than 100 years of operation and is one of the leading banks in India. It provides services such as personal, corporate, and agricultural banking and services to NRIs and MSMEs. 

Bharat Dynamics Limited 

The stock has risen from Rs 391 level in January 2022 up to the current level of Rs 942 on Monday, thereby delivering a multibagger return of 142 percent in the year 2022. 

The stock started gaining soon after the Russia- Ukraine war erupted at the beginning of the year. The order book of the company has crossed a value of more than 2,000 crores during the year as the government made a commitment to reduce imports. 

Bharat Dynamics Limited (BDL) is one of India’s manufacturers of ammunition and missile systems. It provides surface-to-air, air-to-air, and anti-tank guided missiles and underwater weapons. 

Raymond Limited 

The stock has logged a return of 144 percent in the year 2022 as the price has risen from Rs 615 levels in January last year up to the current level of Rs 1,499. 

The shares have been rallying from the time the festive season started in India. In addition to that, the strong quarterly result reported by the company in Q2 also helped in the rally. 

Raymond Limited, incorporated in 1925, is a diversified group with interests in the Textile & Apparel sectors as well as a presence across diverse segments such as Real Estate, FMCG, and Engineering in national and international markets. The company is known for its brands which include Colour Plus, Parx, and Park Avenue. 

Written by Anoushka Roy

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